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Segmentation,Targeting,Positioning (STP).pptx

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This document discusses market segmentation, which involves dividing the overall market into smaller submarkets or segments composed of customers with similar needs, characteristics, and behaviors. The key points are: Market segmentation allows companies to optimize their products, marketing, advertising, and sales for different customer types. It is done by selecting target markets based on attributes like age, income, location, needs, and interests. Effective segmentation improves profits, product responsiveness, resource allocation, and differentiation. There are several bases and steps for segmentation, and advantages include stronger messaging, identifying strategies and niches, attracting customers, differentiating the brand, and connecting with customers.

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P.Venkata Subbaiah,MBA.Ph.d (AITS) Topics : STP Model Segmentation
MARKET SEGMENTATION Market segmentation means dividing the market into several homogeneous submarkets or segments. Market can be broadly classified into two types consumer markets and organizational markets. Consumer market covers the ultimate users who normally buy in smaller quantities. Organizational market coversIndustrial Market, Reseller Market and Government Market
Market Segmentation Market segmentation is a process that consists of selecting the target market into smaller groups that share similar characteristics, such as age, income, personality traits, behavior, interests, needs or location. These segments can be used to optimize products, marketing, advertising and sales efforts. Segmentation allows brands to create strategies for different types of consumers, depending on how they perceive the overall value of certain products and services. In this way they can introduce a more personalized message with the certainty that it will be received successfully.
Significance of Market Segmentation 1. Products are designed to be responsive to the needs of the marketplace 2. Increase Profits 3. Effective Resource Allocation 4. There is Product Differentiation
Marketing Segmentation Requirement Measurable Accessible Differentiable Substantial Actionable Formulation of Effective Programmes
Bases For Market Segmentation
Steps to implement a market segmentation strategy Define the market Segment the market Understand the current market Build the customer segment Test the strategy
Advantages of market segmentation Create stronger marketing messages Find the ideal marketing strategies Attract potential customers Differentiate your brand from the competition Identify your niche market Identify your niche market Create a customer connection
Segmentation,Targeting,Positioning (STP).pptx

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Segmentation,Targeting,Positioning (STP).pptx

  • 1. P.Venkata Subbaiah,MBA.Ph.d (AITS) Topics : STP Model Segmentation
  • 2. MARKET SEGMENTATION Market segmentation means dividing the market into several homogeneous submarkets or segments. Market can be broadly classified into two types consumer markets and organizational markets. Consumer market covers the ultimate users who normally buy in smaller quantities. Organizational market coversIndustrial Market, Reseller Market and Government Market
  • 3. Market Segmentation Market segmentation is a process that consists of selecting the target market into smaller groups that share similar characteristics, such as age, income, personality traits, behavior, interests, needs or location. These segments can be used to optimize products, marketing, advertising and sales efforts. Segmentation allows brands to create strategies for different types of consumers, depending on how they perceive the overall value of certain products and services. In this way they can introduce a more personalized message with the certainty that it will be received successfully.
  • 4. Significance of Market Segmentation 1. Products are designed to be responsive to the needs of the marketplace 2. Increase Profits 3. Effective Resource Allocation 4. There is Product Differentiation
  • 5. Marketing Segmentation Requirement Measurable Accessible Differentiable Substantial Actionable Formulation of Effective Programmes
  • 6. Bases For Market Segmentation
  • 7. Steps to implement a market segmentation strategy Define the market Segment the market Understand the current market Build the customer segment Test the strategy
  • 8. Advantages of market segmentation Create stronger marketing messages Find the ideal marketing strategies Attract potential customers Differentiate your brand from the competition Identify your niche market Identify your niche market Create a customer connection